As we head into the busiest week of February’s ASX reporting season, it’s important to keep up to date with all of your shares releasing results throughout the week.
Following on from my previous article, here are 4 more ASX shares to watch during week three of reporting season.
QBE Insurance Group Ltd (ASX: QBE) – Monday
QBE is releasing its FY19 full-year results and dividend tomorrow, February 17. The QBE share price has performed well recently when compared to its insurance peers. Many of the company’s competitors were adversely affected by the recent natural disasters, Insurance Australia Group Ltd (ASX: IAG) being one.
Both Credit Suisse and Morgan Stanley have positive notes out on QBE, with “outperform” and “overweight” ratings respectively. Credit Suisse analysts not only believe management’s guidance is achievable, but think the company’s Combined Operating Ratio (COR) could improve further in FY21 and beyond.
Cochlear Limited (ASX: COH) – Tuesday
Cochlear is set to release its FY20 half-year results on Tuesday. The medical device company has been an extremely strong performer over a long period of time now. Investors’ confidence in Cochlear shares can be seen in a very high price-to-earnings (P/E) ratio of around 48x earnings.
This is despite a recent downgrade by the company associated with the novel coronavirus outbreak. The new guidance is for 2% to 9% growth in FY20 underlying net profit. Previous guidance was for growth of 9% to 13%. Investors will be keen to see how much of an effect the virus has had on actual first-half results.
Qantas Airways Limited (ASX: QAN) – Thursday
The Qantas share price has seen a slight pullback in the calendar year-to-date, primarily associated with the novel coronavirus. The consensus estimate for Qantas’ upcoming results release is profit before tax of $811 million. This is, of course, a consensus, with different brokers having differing opinions on the stock.
Goldman Sachs believes Qantas could surprise to the downside as a result of the bushfires, Hong Kong protests, and the novel coronavirus outbreak. Analysts at UBS, on the other hand, are more upbeat on the stock, referencing the potential positive impacts of long-haul flights in the next few years.
BWX Ltd (ASX:BWX) – Friday
BWX shares have been on an absolute tear, tripling in value since bottoming out in January 2019. As a result of the run up, the skin and hair care business is now trading on a P/E ratio of around 55x earnings.
Investors will be looking to see the company meet its previously-set strong guidance, reflecting continued strength in operations from the company. This guidance is for revenue growth of 20% to 25% and earnings before interest, tax, depreciation and amortisation growth of 25% to 35% in FY20.
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Lloyd Prout has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Cochlear Ltd. The Motley Fool Australia owns shares of and has recommended BWX Limited. The Motley Fool Australia owns shares of Insurance Australia Group Limited. The Motley Fool Australia has recommended Cochlear Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.